Kansas Hits New Monthly Sports Betting Record

Kansas has made a significant mark by setting a new monthly revenue record in December. The state reported a staggering $20.1 million in sports wagering revenue, surpassing the previous record of $14.4 million set in October by a whopping 39.6%.

While the revenue record in December is certainly impressive, the total amount wagered, known as the handle, fell just short of November’s all-time high. During the month of December, players in Kansas spent a total of $259.7 million, which was slightly below the record $260.9 million bet in November. Despite this slight decrease, the handle in December was still 40.4% higher compared to the previous year.

When it comes to sports betting in Kansas, online platforms have emerged as the dominant force. In December, online betting accounted for a staggering $19.2 million of the total revenue, while retail wagering only contributed $808,961. This clearly highlights the shift in consumer behaviour towards online platforms, which offer convenience and accessibility.

Among the various operators in Kansas, Boot Hill Casino and DraftKings have emerged as the leaders in the online market. The revenue generated from their partnership amounted to an impressive $8.5 million, with a handle of $103.8 million. Kansas Star and FanDuel secured the second position with $7.2 million in revenue and an $86.5 million handle.

In the retail segment, Hollywood Casino at Kansas Speedway continues to maintain its position as the leader. The venue reported $545,035 in revenue and a handle of $7.8 million. Kansas Star and FanDuel also performed well in the retail market, securing the second position with $208,110 in revenue and a handle of $1.8 million.

The success of the sports betting industry in Kansas is not only benefiting the operators but also contributing significantly to the state’s tax revenue. In December alone, Kansas collected $2.0 million in sports betting taxes, with $1.9 million coming from online betting and $80,895 from retail.

Looking at the bigger picture, the fiscal year-to-date handle in Kansas has surpassed an impressive $1.16 billion. This includes $1.11 billion from online betting and $52.9 million from retail. The revenue for the fiscal year-to-date reached $63.1 million, with online betting contributing $59.3 million and retail wagering adding $3.8 million. The tax revenue generated during this period amounted to $6.3 million.

In conclusion, Kansas has witnessed a remarkable surge in sports betting revenue, setting a new monthly record in December. The online betting market has emerged as the dominant force, with operators like Boot Hill Casino and DraftKings leading the way. The impressive tax revenue collection further highlights the positive impact of the sports betting industry on the state’s economy. With the year-to-date handle surpassing $1 billion, Kansas continues to establish itself as a prominent player in the world of sports betting.